WEBVTT MONEY.KCRA 3'S TOM MILLER EXPLAINS THEOPTIONS THE CITY FACED ANDrtWHAT'S NEXT.TOM: IF YOU'RE LUCKY ENOUGH TOHAVE A CORNER OFFICE, THIS WILLBE YOUR VIEW.LOCATED IN ONE STOCKON'S PRIMErtLOCATIONS, THE WATERFRONTBRIDGES LOOK OUT AT DOWNTOWN ANDWEBER POINT.SO WHAT ARE THE TWIN OFFICErtTOWERS COSTING THE CITY?$14 MILLION UP FRONT, PLUS,rtANOTHER $11 MILLION IN UPGRADESFOR A TOTAL OF MORE THAN $25MILLION.THE CITY'S ECONOMIC DEVELOPMENTDIRECTOR BELIEVES THE LOCATIONSHOWS OFF THE CITY'S BESTASSETS.>> THE CITY MADE SUBSTANTIALINVESTMENT ON THE WATERFRONTrtWITH THE MARINA, THE PROMENADE,THE ARENA, THE BALLPARK SO THISIS REALLY WANTING THEOPPORTUNITY TO SHOWCASE THOSETHINGS.TOM: THE CITY SAYS THE MOVE WILLSAVE MONEY.RIGHT NOW THE CITY PRIMARIrtLYOPERATES IN TWO BUILDINGS.IT LEASES A DOWNTOWN OFFICEBUILDING FOR ROUGHLY A MILLIONDOLLARS EACH YEAR.BUYING IT OUTRIGHT WAS EXPECTEDTO COST AS MUCH AS $50 MILLION.rt>> INSTEAD OF LEASING A CAR,WE'RE BUYING THE CAR AND MAKINGAN INVESTMENT INTO THE BUILDINGTHAT WE OWN.rtTOM PLUS, THERE'S THE OLD CITY: HALL THAT CURRENTLY HOSTSCOUNCIL MEETINGS AND HOUSESSEVERAL CITY DEPARTMENTS.IT WAS EXPECTED TO COST AS MUCHrtAS $60 MILLION TO ADEQUATELYEXPAND AND RENOVATE.SOME BELIEVE THE CITY SHOULDSPEND ITS MONEY ELSEWHERE.>> THE CITY OF STOCKTONDESPERATELY NEEDS OTHER THINGSrtSUCH AS SUMMER YOUTH PROGRAM TOBE BACK UP, WE NEED OURLIBRARIES, OUR POOLS.TOM: OTHERS SEE ITS POTENTIAL.>>rt A STEAL, WE GOT A GOOD DEAL,AND WE GET OUT OF THE MONEY PIT,AND LEAVE THE BANKRUPTCY BEHINDUS, AND START FRESH.TOM:rt FRESH WITH A VIEW, AIMINGTO TAKE THE CITY'S OPERATIONS TONEW HEIGHTS.IN STOCKTON, TOM MILLER, KCRA 3NEWS.WITH ALL THE PAPERWORK ANDESCROW THE CITY ISN'T EXPECTEDTO TAKE OWNERSHIP OF THEBUILDING UNTIL NEXT YEAR,RENOrtVATIONS PUSH THE MOVE INDATE BACK TO 2019.REPORTING IN STOCKTON, TOM